Lexicon Pharmaceuticals (NASDAQ:LXRX) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note published on Wednesday morning,Benzinga reports. They currently have a $4.00 price target on the biopharmaceutical company’s stock.

LXRX has been the topic of a number of other research reports. Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, December 23rd. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

Lexicon Pharmaceuticals Stock Down 11.3 %

LXRX stock opened at $0.83 on Wednesday. Lexicon Pharmaceuticals has a twelve month low of $0.62 and a twelve month high of $3.73. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56. The company has a market cap of $203.22 million, a PE ratio of -1.10 and a beta of 1.06. The business’s 50-day simple moving average is $0.79 and its 200 day simple moving average is $1.38.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. The firm had revenue of $1.75 million during the quarter, compared to analyst estimates of $3.14 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. On average, research analysts anticipate that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LXRX. BNP Paribas Financial Markets increased its holdings in shares of Lexicon Pharmaceuticals by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 13,246 shares in the last quarter. SG Americas Securities LLC grew its position in Lexicon Pharmaceuticals by 107.6% during the 3rd quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 23,893 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Lexicon Pharmaceuticals by 40.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 14,411 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Lexicon Pharmaceuticals by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 69,527 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 27,058 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Lexicon Pharmaceuticals in the third quarter worth $115,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain and LX2761, which is in Phase I clinical development for gastrointestinal tract.